G-III Apparel forms strategic partnership with AWWG as it eyes up international expansion

G-III Apparel Group, Ltd. (GIII), the parent company of DKNY, Karl Lagerfeld, Donna Karan, and Sonia Rykiel, has signed a strategic partnership with Spanish fashion group All We Wear Group (AWWG) to accelerate the international expansion of its fashion brands.

Under the agreement, G-III acquired an approximately 12 percent stake in the Madrid-based fashion group, while AWWG will act as the agent for DKNY, Donna Karan, and Karl Lagerfeld in Spain and Portugal.

AWWG, owned by M1 Group, L'Catterton, and founder Carlos Ortega, currently owns a roster of brands, including Pepe Jeans London, Hackett, and Façonnable, and is the licensed distributor for Tommy Hilfiger and Calvin Klein in Spain and Portugal.

Generating over 650 million USD in revenues across more than 3,500 points of sale in over 86 countries, the Spanish group offers significant expertise to spearhead the growth of G-III brands in Iberia as the American company eyes up maximum growth opportunities for its brands in Europe.

As AWWG also has a strong presence in India, G-III aims to leverage this to further expand its key brands in one of the fastest growing fashion markets in the world. Further cementing the new partnership with, AWWG is set to benefit from G-III leading operations across North America to strengthen and expand their brands footprint in the vital market.

"This exciting partnership with AWWG helps us accelerate a number of our strategic priorities," said Morris Goldfarb, G-III's chairman and CEO, in a statement. "It not only affords us the opportunity to meaningfully invest in a company with iconic brands but also represents a sizable international presence with a strong infrastructure and talented leadership team that will benefit our efforts to scale our European business. At the same time, we look forward to supporting AWWG's overall growth and advancement of their brands here in North America."

"We are incredibly proud to have G-III, an industry leader with a track record of scaling brands, as our shareholder," said Marcella Wartenbergh, CEO of AWWG, in a statement. "We look forward to partnering together to propel the growth and European expansion of DKNY, Donna Karan, and Karl Lagerfeld, leveraging our global brand platform, operational excellence, and Indian market capabilities. AWWG will also benefit from G-III's expertise and investment as we seek to expand our brands Hackett, Pepe Jeans, and Façonnable in North America and further solidify our operational platform during this critical moment of our growth journey."

"This agreement is the result of a relationship built on mutual trust and a unified vision for brand growth and product development."